More U.S. consumers will shop online than through department shops, discount stores or florists for Valentine’s Day, the National Retail Federation (NRF) says. Furthermore, ecommerce’s share of those sales is growing.
40% of consumers who plan to have fun the vacation will shop online, up from 35% last yr, based on the NRF. Meanwhile, 33% will purchase from department shops, followed by discount stores (31%) and florists (17%).
Results are based on 8,329 adult consumers surveyed between Jan. 2 and Jan. 8.
Top Valentine’s Day gifts
Candy will likely be the highest Valentine’s Day gift this yr, the NRF predicts. 57% of celebrants plan to purchase candy. That’s on par with 2023 numbers. Greeting cards (40%), flowers (39%) and an evening out (32%) all remain popular gifts too, at levels much like last yr. Clothing (21%) and gift cards (19%) rounded out the foremost gifting categories.
The NRF predicts several categories will break latest spending records for Valentine’s Day. It estimates jewelry spending will are available at $6.4 billion, while spending on an evening out could account for $4.9 billion. Meanwhile, clothing will amount to $3 billion in spending, followed by $2.6 billion on flowers, the NRF says.
“While shoppers could also be spending essentially the most on jewelry, overall, the preferred gifts are the classics — candy and greeting cards,” executive vice chairman of strategy at Prosper Insights & Analytics Phil Rist said. “We’re also seeing continued interest in gifts of experience with about one-third of consumers planning to provide a present of experience this yr.”
How much will consumers spend on Valentine’s Day?
Just over half (53%) of consumers plan to have fun Valentine’s Day this yr, the NRF says. That’s about even with the 52% who celebrated in 2023. Of the 47% not planning to have fun the occasion, 29% say they may still do something to mark the day, like purchasing themselves a treat or getting along with friends.
In total, consumers plan to spend $25.8 billion on Valentine’s Day celebrations in 2024, the NRF says. That will be the third-highest spending level because the organization began the survey in 2014. Consumers spent $25.9 billion on Valentine’s Day celebrations in 2023, and 2020 still holds the record with $27.4 billion.
Though overall spending hasn’t budged much since last yr, more of it can be spent on significant others this yr. Consumers are projected to spend $14.2 billion, about 55% of the overall, on significant others. That’s the very best proportion allocated to significant others since conducting the survey. In contrast, last yr, consumers spread spending around on other relationships of their lives, including friends, coworkers, and pets.
“Retailers are able to help customers this Valentine’s Day with meaningful and memorable gifts,” NRF president and CEO Matthew Shay said. “With consumers prioritizing their spouse or better half this yr, retailers expect to see a shift in spending for certain gifting categories.”
Consumers who plan to have fun will spend about $185.81 each on the vacation. That’s nearly $8 over the typical across the last five years.
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